Pakistan’s govt borrowing hits Rs4.78 trillion for FY24

ISLAMABAD: Pakistan has taken on an additional debt of Rs276.55 billion during the week ending April 26, 2024, bringing the country’s total net borrowing for the current fiscal year to Rs4.78 trillion.

According to recent data from the State Bank of Pakistan (SBP), government borrowings for the current fiscal year have been on the rise compared to previous years, indicating ongoing fiscal pressures.

Borrowings are generally divided into three categories: budgetary support, commodity operations, and others.

During the week ending April 26, the government borrowed Rs230.84 billion for budgetary support and Rs45.76 billion for commodity operations, while Rs54.82 million was retired in the “others” category.

These new figures push the cumulative borrowing for the current fiscal year to Rs5.07 trillion for budgetary support, Rs283.57 billion for commodity operations, and Rs2.64 billion for other expenses.

The two primary sources of government funding are the State Bank of Pakistan and the Scheduled Banks.

Over the course of the fiscal year, the government has repaid a net total of Rs735.22 billion to the central bank.

The Federal Government accounted for Rs425.15 billion of this repayment, while the Provincial Government retired Rs294.54 billion.

Meanwhile, the AJK government retired Rs17.89 billion, and the GB government borrowed Rs2.36 billion.

In contrast, the scheduled banks have lent a net total of Rs5.8 trillion during this fiscal year, with the federal government borrowing Rs5.96 trillion and the provincial government retiring Rs159.99 billion.

Read next: PSX sheds 159.38 points to end another day in red